After six consecutive weeks of uptrend, ARPA price has started this week in the red. At press time, the top 500 coin by market cap is trading at a few points below $0.05 due to a 4.07% correction on Monday.
Most digital assets are showing a negative price action on the first trading day of the week as the Bitcoin price slid below $37,000 once again. The altcoin market dominance and the Total 3 market capitalization also decreased by 1.9% as the investors rushed to take profits.
However, the outlook on most coins, including ARPA crypto, remains bullish as the bullish market structures are still intact on the lower timeframes. The ongoing correction in the price of the native asset of ARPA Network comes due to a rejection from the resistance at $0.055.
The technical analysis further reveals that the time is running out for the bulls to break above the critical resistance level.
Therefore, I expect the ARPA price prediction to become bearish if the bulls fail to break above $0.055 in the coming days. If this happens, a retest of the $0.038 might become a possibility.
